Santa Cruz County Market Update – March 2025
Below are the Santa Cruz County Market Statistics for March ’25. Here are the SFH highlights:
– Active Inventory increased by 16.1% from February ’25 to March ‘25. Active Inventory is up 64.1% from March ’24.
– The median SFH sales price for March was $1.40M, up 12.4% from the month prior. March ’25 median home price is up 7.1% from March ’24.
– Number of Sales increased by 63.2% from February ’25 and is up 4.3% from March ’24.
– Days on Market in February ’25 was 40. Days on Market in March ’24 was 35.
The biggest story of the year remains the inventory. Available (Active) Inventory continues to climb as new listings significantly outpace sales + off-market listings. The impact of that isn’t yet shown in that data, but if the market continues to be flooded with supply while the mortgage rates remain elevated, then this will likely swing the closed metrics in the buyers’ favor. While I don’t think the impact will be any sort of significant downturn in sales metrics, the likely result is homes staying on the market longer as buyers feel the improved leverage. Those that do sell will likely be presented very well and/or priced very well. This shift could be short-lived as reduced mortgage rates would very likely create a large influx of new buyers in the market.
